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Britain, France suggest phased approach to global digital tax talks

2020-06-27 00:05:57       source:CGTN

June 26, 2020

Britain, France, Italy and Spain suggested a "phased approach" to global digital taxation talks in a joint letter to the U.S. treasury secretary last week, which they said could open the way for a deal this year.

The four countries sent the letter, seen by Reuters, to Secretary Steven Mnuchin after he called for a pause in negotiations to update cross-border tax rules for the first time in a generation, which has been taking place at the Organisation for Economic Cooperation and Development (OECD).

In the absence of a global deal, Washington has threatened trade retaliation against European countries that create digital taxes as a way to raise revenue from the local operations of big tech companies such as Alphabet Inc's Google and Facebook Inc.

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